EURO vs. USD
It was late March 2020 that a rising channel began to form for the pair. (the YELLOW and the WHITE one)
After touching 1.23 area it started a downtrend to 0.38 FIB.RET. area which was the support of the channels. In the downtrend pitchfork you can see a move above the level 1 which means continuing to rise.
I expect the pair to continue rising until it reaches the 1.205-1.21 area. Breaking this level needs a lot of good news. But we are just giving credit to the falling of DXY which is at critical support of 91.5 right now. So keep an eye on DXY if you are going to open long position on the pair.
I would be glad to see your comments below.
After touching 1.23 area it started a downtrend to 0.38 FIB.RET. area which was the support of the channels. In the downtrend pitchfork you can see a move above the level 1 which means continuing to rise.
I expect the pair to continue rising until it reaches the 1.205-1.21 area. Breaking this level needs a lot of good news. But we are just giving credit to the falling of DXY which is at critical support of 91.5 right now. So keep an eye on DXY if you are going to open long position on the pair.
I would be glad to see your comments below.
Penafian
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